For the sale and purchase of digital ad space, programmatic marketing employs automated methods. Discussions and auctions are handled by computer programs and algorithms, with little need for human interaction.
The practice has taken over B2B, assisting data-driven marketers in hyper-targeting high-potential segments. According to the Ascend2 poll, 66 percent of marketing leaders anticipate significant programmatic marketing spend increases.
Despite widespread use, automation, and rationality, programmatic marketing errors are not rare.
Avoid making these errors in your programmatic marketing efforts.
1.Using Outdated Key Performance Indicators (KPIs)
Clarify the goals before beginning a marketing effort. Analyze the results of your analytical tools, and then create key performance indicators (KPI) that correspond to your marketing objectives.
Many marketers continue to employ old or previously used KPIs for new efforts, which could be a mistake. Your KPI models and other attribution systems must be aligned with current business objectives and the advertising landscape.
2.Focusing on Cost-Based Metrics
Only examining price, “C-suite” marketing indicators will not provide a whole picture. Consider how you’ll keep track of where prospects are in the sales funnel. It’s a never-ending process of fine-tuning.
Real-time optimization is a benefit of programmatic marketing. This entails making changes to your live campaigns depending on actual results and the conversion paths of your customers.
While measures such as CPM, CPC, CTR, CPV, and CPA are required to determine ROI and campaign costs, they are not the whole picture. For programmatic commercial success, you must examine and comprehend your prospects’ intentions, actions, and purchasing path.
3.Using the Incorrect DSP
It is critical for B2B marketers to choose the correct demand-side platform (DSP) for programmatic marketing initiatives. Is it all-inclusive? Is self-service available? Budget and brand understanding are two important factors to consider.
Evaluate a variety of DSPs and choose the ones that will provide the most value to your efforts. Including just one DSP in your internet marketing stack isn’t always enough.
4.Ignoring the Importance of Intent Data
If you want your ads to be effective, you can’t ignore intent data. With signals about prospects’ online actions and intents, intent data breathes new life into programmatic marketing efforts. Who are these potential customers? What do they desire? Are they now engaged in your advertising campaigns?
With these tips, you can understand how programmatic buying works and start your own journey towards rectifying the same. With time, you’ll notice the difference in the way your campaigns perform! Head to Prachar to begin your journey into programmatic buying and more!
Also, read our new updates on Media buying: What are the emerging trends?